Knowledge Transfer Session

1
A brief overview of closing rules
Dave Foreman, CSU Chico
2
Year End Close Rules

• Year End Close Rules
• Why?
• What?
• How?
• When?

Why do we have close rules?
What tools do we need?
How are the detailed procedures performed?
When is a good time?
3
Why?

• Why do we have close rules?

R
Reverting Funds
F
Fund Equity Accounts
P
Project to Date Funds
4
Why?

• Reverting Funds
• Reverting Funds must be identified and cleared to
  zero.
• Fund Equity Accounts
• Legal closing requirements specify that revenues
  and expenses close to different Fund Equity
  Accounts (3050XX) based on SCO Fund.
• Project to Date Funds
• Continuing appropriation funds.
• Capital Project funds that need to have revenue
  and expense rolled forward (period 0).

5
What?

• What tools do we need?
• Chartfields
• Need understanding of revenue, expense, and fund
  equity accounts in order to create chartfield
  value sets
• Trees
• Used in defining chartfield value sets
• Chartfield Value Sets
• Combination of chartfields and trees used in
  closing process
• Queries
• Use queries to identify fund and account
  attributes
• Spreadsheets
• Store and reorganize data

6
What?

• Examples-Queries

7
What?

• Example of Chartfield Value Set

8

What?

• Example-Trees

9

What?

• Example-Spreadsheets

Multiple Retained Earnings
Equity Accounts for State Funds
10
Put it all together
Road to Close
Fund Trees
Chartfield Value Sets
PTD
MRE
Closing Request
Closing Rules
11
How?

• How are the detailed procedures performed?
• Additional sources

http//cms.calstate.edu/T2fn84bp.asp
http//cms.calstate.edu/T5FUG_Postings.asp
12
When?

• When is a good time?

Test early, test often in non-production.
Practice, Verify, Validate
13
Wrap up

• Questions, Comments, Suggestions, Ideas, or
  Concerns

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Contact dforeman_at_csuchico.edu 530-898-5103